SFG Wealth Management LLC. Has $2.95 Million Stock Holdings in General Electric (NYSE:GE)

by · The Markets Daily

SFG Wealth Management LLC. trimmed its position in General Electric (NYSE:GE – Free Report) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,636 shares of the conglomerate’s stock after selling 100 shares during the period. General Electric makes up approximately 1.6% of SFG Wealth Management LLC.’s portfolio, making the stock its 14th biggest position. SFG Wealth Management LLC.’s holdings in General Electric were worth $2,949,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC boosted its stake in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter worth $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the third quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in General Electric in the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of General Electric during the 2nd quarter valued at $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Up 1.6 %

General Electric stock traded up $2.89 during mid-day trading on Friday, hitting $181.74. The company’s stock had a trading volume of 586,657 shares, compared to its average volume of 6,272,589. The business has a 50 day moving average price of $180.47 and a 200-day moving average price of $169.59. General Electric has a 12 month low of $90.34 and a 12 month high of $194.80. The stock has a market cap of $196.70 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. During the same period in the prior year, the business posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts forecast that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GE shares. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Read Our Latest Stock Analysis on General Electric

General Electric Company Profile

(Free Report)

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.

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